Anyone arguing that tech is paid too high TC is dumb.
Frankly, they don't understand economics. Cost of labor is NEVER above its natural price dictated by supply and demand. No employer is willing to pay you more than you're worth. I challenge you to give me an example. There isn't any. Even if you were part of a union with artificially created low supply and higher wage, it wouldn't last past that individual's career. However, cost of labor is always at risk of being BELOW its natural price. So you will always be at risk of being paid below what you're worth. In an ideal market, with no monopolies and involvement of government forces, labor will be paid what it's worth. It is easier to reduce wages than increase wages because business owners/masters are fewer in ratio than workers. So just two big company can corroborate (rumors that big tech like Apple have done this) and suppress wages for thousands of workers. But those thousands of workers would have to unionize to even have any sort of impact, with no one agreeing to lower wages, and striking out on unpaid time, at the risk of starvation (not getting paid), so we're always at a disadvantage. The business owners have enough to eat from their surplus so can wait it out. Today what we see are corporations constantly trying to suppress wages with immigrant workers who are willing to be paid less, contract workers, manipulating the market as a ogliarchy/monopoly, etc. This is why you hear any mention of union is IMMEDIATELY killed in any company. It's the same concept as old as time, masters vs. labor but in modern day coating. People who don't understand this and try to hate on fellow labor for earning too much TC are literally losers. 🤡 TLDR To be put simply... If other workers are willing to accept less TC, it suppresses wages for all. But if they accept high TC, it is good for all as that's the natural price or as close to it created by the market (supply/demand).
And you didn't even post TC. Gtfo
I keep forgetting 250k
I found it stashed in union office.
i agree with the labour solidarity, but you literally just posted the supply and demand meme in ranting essay form
I wanted to put my thoughts in words. For me.
"mindcontrl" Username checks out, this is clearly some Russian bot or CCP shill trying to spread class consciousness and communist ideas by telling us we're getting surplus value extracted from the fruits of our labor I love my CEO. I love my corporation. I love that executives at my company make millions a year. I love that they are grateful enough to give me a job and pay me a living wage. I love America. I love freedom. I love democracy. Slava Ukraini. 1984 Tianeminem Square.
Tldr “Step on me more, daddy”. You’re yelling about communism, yet you conflate democracy with capitalism. You’ve gone through the same brainwashing, but western.
I love liberal democracy. The type of democracy that USA has where no matter who is in office, the rich and businesses benefit at the cost of the peasants but because it seems more democratic than other forms like democratic centralism, the poors don't rise up and revolt and companies (like the ones I work at) are allowed to continue consuming everything in their path Slava Ukraini
"But those thousands of workers would have to unionize to even have any sort of impact, with no one agreeing to lower wages, and striking out on unpaid time, at the risk of starvation (not getting paid), so we're always at a disadvantage. The business owners have enough to eat from their surplus so can wait it out." Have you literally never picked up a history book to understand the power of unions and the influence they've had in the world (particularly the US)?
What are you disagreeing with? That's literally what I said. Have you picked up a history book?
Look you have a very simple view of econ that’s just whatever you learnt in the 101 class. It’s the equivalent of a frictionless environment in physics. In the real labor market there are plenty of instances where the marginal revenue product of an employee cannot be ascertained by the company and so the wage premia can persist longer than expected than in a perfect market. Furthermore it’s also way harder for wages to adjust downwards than it is to adjust upwards because of local Nash equilibria in industries where unilaterally lowering offers will result in talent going elsewhere — you need a coordinated effort to reduce prices across the board or some kind of exogenous shock. I too am fairly libertarian but you need to stop thinking in terms of these highly simplified models of the economy.
They tried the coordinated effort thing and got slapped by the justice dept. If they want to pay less they can offer less and quickly lose all talent, I doubt all tech companies follow suit.
Yeah that’s what I said lol
These are the same people complaining nba players make too much. If you generate billions in revenue and there is demand for your skillset businesses will pay up.
Lol let me have my moment!!
Then you should learn to write concisely.